SYNTHEON® Building Component Brand to be Retained
PITTSBURGH, PA — In anticipation of the transformation and recovery of the construction industry, Headwaters AG, LLC (Headwaters) announces it has entered into definitive agreements for the acquisition of the global portfolio of businesses collectively known as SYNTHEON, from NOVA Chemicals, through various subsidiaries of Headwaters. The transaction is expected to close on or before November 30, 2012. SYNTHEON, which provides innovative materials and products to the global building and construction industry and packaging industry, will continue to operate under the SYNTHEON name.
“There are many fundamental forces which are transforming the construction industry from being mainly a field-erected industry to an industry characterized by highly-engineered and energy-efficient materials, components, assemblies and systems, which are manufactured and fabricated in controlled environments for high performance,” stated Christian Echavarria, President & COO of Headwaters.
The portfolio of businesses acquired by Headwaters includes:
· SYNTHEON Inc. (U.S.A.)
· Accelerated Building Technologies, LLC (accel-E® wall panel system)
· NOVA Chemicals Chile Limitada, and
· The Elemix® concrete additive product line
Ricardo Wiener Strauss, currently General Manager of NOVA Chemicals Chile Limitada, is expected to be named CEO of SYNTHEON upon closing of the transaction.
“The acquisition of the portfolio of businesses gives us a strong global presence and foundation to build a premier enterprise,” stated Mr. Wiener Strauss. He continued that “Our focus for SYNTHEON will be to create an innovative family of products to provide a High-Performing Branded Green Envelope to the building and construction industry and expand other business lines such as packaging that leverage the manufacturing assets of the company.”
SYNTHEON practices engineered sustainability – an approach to continuously evolving building performance that is verifiable and produces consistent, permanent high-performance solutions. These solutions significantly minimize waste and minimize the resources needed during and after the construction process. Offering innovative products and services, SYNTHEON building components reduce energy usage, and reduce project cost by cutting construction time and more efficiently utilizing labor.
SYNTHEON’s accel-E Steel Thermal Efficient Panel wall system combines the strength of cold-formed steel framing with the insulation properties of expanded polystyrene (EPS). The result is a thermally resistant, high performance building system that’s strong, light in weight and energy efficient. accel-E offers a host of advantages over conventional building techniques including energy efficiency, faster installation time, labor savings, and more.
Elemix concrete additive is an innovative and proven concrete additive made of specially engineered polymeric spheres – lightweight synthetic particles (LSP) – that disperse uniformly throughout a concrete mix to replace a significant volume and weight of both normal and lightweight aggregate, while ensuring uniform strength.
SYNTHEON Holdings SpA
The SYNTHEON South American Division in Chile was created specifically for the construction market, offering innovative products and efficient solutions. Its diverse line of products is expected to include the following: Insulated Deck Forms using Plastbau® technology that combines the insulating capabilities of modified EPS with steel inserts: Insulated Roofing Panels; Curtain Wall Panels; Partition Panels; Rigid Insulation Board; Structural Insulated Panels; and Insulated Concrete Forms.
SYNTHEON Inc. (www.syntheoninc.com) serves as a global source in the building and construction industry for advanced high-efficiency products and services designed to change the way buildings are built and experienced.
Headwaters provide advisory and direct investment services to business owing families and family offices. Headwaters delivers extraordinarily good results for clients through offering Six Core Services to support Business Growth, Company Capitalization, Generational Transition, and Shareholder Liquidity, plus Family Office Direct Investments (FODIS) and Private Company Equity Oversight (PCEO). Over its thirty years in business, Headwaters has completed over US$12 billion in capital transactions.
NOVA Chemicals develops and manufactures chemicals, plastic resins and end-products that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals is a wholly owned subsidiary of International Petroleum Investment Company (IPIC) of the Emirate of Abu Dhabi, United Arab Emirates.
SYNTHEON and Elemix are registered trademarks of SYNTHEON Inc.
ACCEL-E is a registered trademark of Accelerated Building Technologies, LLC.
Plastbau is a registered trademark of Plastedil S.A.
Responsible Care® is a registered trademark of the Chemistry Industry Association of Canada (CIAC) in Canada and is a registered service mark of the American Chemistry Council (ACC) in the United States.
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